Post Utme Igbinedion University 2022 Commerce Question 21

Practice objective / multiple choice question 21 from the 2022 Post Utme Igbinedion University Commerce examination.

Post Utme Igbinedion University 2022 Commerce Objective / Multiple Choice
Question 21 POST_UTME_IGBINEDION_UNIVERSITY • 2022 • COMMERCE • objective

A firm specializes in producing only one product. This specialization allows the firm to reduce its costs and increase its efficiency. What is the term for this type of specialization?

Answer Options

Correct Answer A. Economies of scale
B. Economies of scope
C. Product differentiation
D. Vertical integration
Correct Answer
A
Correct Option:
Economies of scale

About This Question

This is Post Utme Igbinedion University 2022 Commerce Question 21. It is one of the objective questions from the 2022 Post Utme Igbinedion University Commerce examination.

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